Business
Stock market today: Wall Street climbs as S&P 500 closes out fourth-straight winning month
By Alex Veiga, The Associated Press on August 30th, 2024
NEW YORK – THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks on Wall Street bounced back from a midafternoon fade Friday, leaving the market on pace to close out its fourth-straight winning month with more gains. The S&P 500 was up 0.7%, with about 76% of the stocks in the index ... Read More »
Be the first to comment!Brazilian judge suspends X platform after it refuses to name a legal representative
By Barbara Ortutay And Mauricio Savarese, The Associated Press on August 30th, 2024
SAO PAULO (AP) – A Brazilian Supreme Court justice on Friday ordered the suspension of Elon Musk’s social media giant X in Brazil after the tech billionaire refused to name a legal representative in the country, according to a copy of the decision seen by The Associated Press The move further escalates the monthslong feud ... Read More »
Be the first to comment!Postmedia CEO says layoffs at SaltWire, Herald are necessary to stabilize papers
By The Canadian Press on August 30th, 2024
HALIFAX – The CEO of Postmedia says job cuts at Atlantic Canada’s largest newspaper chain are necessary because the properties were facing bankruptcy. Toronto-based Postmedia finalized its $1-million purchase of insolvent SaltWire Network Inc. and the Halifax Herald Ltd., on Monday, following approval of the sale by a Nova Scotia Supreme Court judge on Aug. ... Read More »
Be the first to comment!Ottawa, Quebec tout ‘new business model’ to fast-track affordable housing
By The Canadian Press on August 30th, 2024
MONTREAL – The governments of Canada, Quebec and the City of Montreal are crediting a new fast-track housing program for plans to build 1,001 affordable homes in Montreal and Rimouski, Que. A news release says developer Société de développement Angus will receive $193.5 million in subsidies to “quickly” build 677 units in Montreal and 324 ... Read More »
Be the first to comment!Hotel workers in 3 Quebec cities, including Montreal, hold another 24-hour walkout
By The Canadian Press on August 30th, 2024
MONTREAL – About 2,500 workers at 22 hotels in some of Quebec’s biggest cities have launched a one-day strike to protest an impasse in contract talks. The walkout at hotels in Montreal, Quebec City and Sherbrooke is the second time since Aug. 8 that workers represented by the CSN-affiliated Fédération du commerce have gone on ... Read More »
Be the first to comment!Cost of new Vancouver Art Gallery spikes from $400m to $600m, forcing redesign
By The Canadian Press on August 30th, 2024
VANCOUVER – The Vancouver Art Gallery says the construction cost of its planned new home has jumped from an original estimate of $400 million to $600 million, forcing a redesign. The art gallery says construction costs across the country spiked by up to 60 per cent between 2020 and 2024, leading to the rise in ... Read More »
Be the first to comment!2 women charged in Lululemon shoplifting scheme in Minneapolis
By The Associated Press on August 30th, 2024
MINNEAPOLIS (AP) – Two Minnesota women are charged with organizing thefts of several thousand dollars’ worth of merchandise from a Lululemon store in Minneapolis and then funneling the stolen goods through a suburban nail salon. My Hoang Thi Van, 56, and Kathy Nguyen, 24, are each charged with one felony count of organized retail theft. ... Read More »
Be the first to comment!More than 4,000 Ontario corner stores approved to sell alcohol next week
By The Canadian Press on August 30th, 2024
TORONTO – More than 4,000 convenience stores across Ontario are licensed to sell alcohol as new liberalized rules come into effect next week. The Alcohol and Gaming Commission of Ontario says it has approved 4,146 such licenses. Premier Doug Ford pledged in the 2018 election campaign to allow the sale of booze in convenience stores. ... Read More »
Be the first to comment!BoC expected to cut key interest rate, despite stronger-than-anticipated growth in Q2
By Nojoud Al Mallees, The Canadian Press on August 30th, 2024
OTTAWA – Economists say the Bank of Canada is still on track to cut interest rates next week, despite economic growth coming in stronger than expected in the second quarter. Statistics Canada’s gross domestic product report on Friday said the economy grew at an annualized rate of 2.1 per cent in the second quarter – ... Read More »
Be the first to comment!S&P/TSX composite down as losses in energy stocks weigh on market, price of oil lower
By The Canadian Press on August 30th, 2024
TORONTO – Canada’s main stock index was down in late-morning trading, weighed down by losses in energy stocks, while U.S. stock markets were mixed. The S&P/TSX composite index was down 36.08 points at 23,191.41. In New York, the Dow Jones industrial average was down 56.72 points at 41,278.33. The S&P 500 index was up 9.71 ... Read More »
Be the first to comment!Ottawa posts federal deficit of $2.9B from April to June
By The Canadian Press on August 30th, 2024
OTTAWA – The Finance Department says the federal deficit was $2.9 billion over the first three months of the fiscal year. The result compared with a $3.6-billion surplus for the same period a year earlier Program expenses excluding net actuarial losses for the April-to-June period totalled $107.5 billion, up from $93.8 billion for the same ... Read More »
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